Ticker: Immelt says China more hostile to foreign business

General Electric Co. CEO Jeffrey Immelt criticized China for what he said was a growing hostility toward foreign businesses in the country. The comments came during a dinner with Italian executives in Rome, and was reported this morning in the Financial Times.

Immelt also criticized U.S. President Barack Obama, whom he felt wasn’t doing enough to encourage entrepreneurship and industrial growth, according to the FT report.

GE later told the FT that Immelt’s comments were taken out of context. The story is here. You may need to register to gain free access to the full story.